Hong Kong Launches Virtual Asset Analysis Tool 'CryptoTrace' to Help Combat CryptoCrimes
Hong Kong's Cyber Security and Technology Crime Bureau (CSTCB) has launched a virtual asset analysis tool “CryptoTrace” to help investigate cryptocurrency crimes. The tool is said to provide advanced intelligence and investigative support to crime investigation departments.
The CSTCB said it conducted a virtual asset investigation and CryptoTrace training sessions in March, aiming to strengthen the ability of frontline officers to handle virtual asset-related cases.
The development of CryptoTrace was supported by the University of Hong Kong, and the CSTCB is actively working with stakeholders fromseveral industries to combat crypto-crime.
At the Cyberport Blockchain Security Conference 2025 held in April this year, Lam Cheuk-ho, Chief Superintendent of the CSTCB, emphasized the threats that emerged in the crypto sector and the importance of exchanges, regulators, and law enforcement agencies sharing the responsibility.
In 2024, Hong Kong investors lost $3.1 billion to cryptocurrency investment scams. Last October, Hong Kong police dismantled a HK$360 million cryptocurrency investment scam syndicate.
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